Mesoblast (NASDAQ:MESO) Shares Gap Up – Here’s Why

Mesoblast Limited (NASDAQ:MESO) shares gapped up before the market opened on Monday . The stock had previously closed at $15.44, but opened at $16.21. Mesoblast shares last traded at $16.27, with a volume of 96,815 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Mesoblast in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Mesoblast Stock Up 3.2%

The company has a market cap of $2.17 billion, a price-to-earnings ratio of -59.79 and a beta of 2.08. The stock’s 50-day moving average is $14.63 and its 200-day moving average is $15.82. The company has a current ratio of 1.58, a quick ratio of 1.41 and a debt-to-equity ratio of 0.10.

Institutional Trading of Mesoblast

Several hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd purchased a new stake in Mesoblast in the 4th quarter worth about $32,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Mesoblast by 30.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,383 shares of the company’s stock valued at $43,000 after purchasing an additional 558 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Mesoblast by 55.6% during the third quarter. JPMorgan Chase & Co. now owns 2,831 shares of the company’s stock worth $46,000 after purchasing an additional 1,012 shares during the period. Raymond James Financial Inc. bought a new position in Mesoblast during the second quarter worth about $86,000. Finally, NBC Securities Inc. purchased a new position in shares of Mesoblast in the fourth quarter worth about $89,000. Institutional investors own 1.43% of the company’s stock.

Mesoblast Company Profile

Mesoblast Limited is a global leader in allogeneic cellular medicines, focused on developing treatments for inflammatory and immunologic diseases. Founded in 2004 by Dr. Silviu Itescu, the company builds on proprietary mesenchymal lineage cell technology to create off-the-shelf, donor-derived therapies. These therapies are designed to modulate immune responses and promote tissue repair in conditions where existing medical options are limited or ineffective.

The company’s most advanced product, Alofisel® (darvadstrocel), has been approved in Europe for the treatment of complex perianal fistulas in adults with Crohn’s disease.